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Regional Area Loans

Are you Thinking About a Loan in Regional Australia?

For people who live in the city and who have only ever borrowed in the city, the thought that there would be any difference in loan conditions in regional areas comes as a surprise. Generally the First time that they realise that there is a difference is when they go to buy a property outside of the city area. Some banks don’t lend for specific towns, and other Banks require a far larger deposit to get a loan in a particular town.

What is considered a regional Area, Some Towns Have Large Populations?

Generally the capital cities are not considered regional and outside of that generally everything is regional. Depending on the bank they may stretch the capital city to neighbouring satellite towns. For example Mandurah may be considered part of Perth for lending purposes. Newcastle and Woollongong In NSW would be considered cities but generally there are less exceptions. It depends on the bank and how tight the lending market is as to whether they are considered Urban or Regional. 

Are You Wondering Why Regional Loans Have Different Conditions?

Bank Lending is based on having collateral. Collateral is usually the property you are borrowing against. In regional areas it can be difficult to sell properties and the prices can fluctuate more than you would see in the city.
For this reason, banks need to ensure that if anything happens with the loan, that they can easily sell the property to cover the loan amount. The way they reduce their risk is to ask for higher deposit amounts to allow for this fluctuation or they may decide not to lend at all for your particular town or region.

Are There Any Loan Alternatives in Regional Areas?

Luckily there are lenders who specialise in providing finance for home loans in regional areas. We can draw upon a variety of lenders who are more than happy to accommodate regional home loan customers. As with every home loan, it will depend on your individual circumstances and will take into account your personal credit history, your assets and liabilities and your your income. Income may be assessed in a variety of ways, including payslips and bank statements if you are self employed. Bank’s have looked less favourably on self employed customers lately, who have only operated the business for as short period of time. That is where a non bank lender or a regional bank becomes important. 

Do they take into Account My Personal Circumstances?

Everyone’s situation is different which is why having someone with a variety of lenders to access, ensures that you have the best possibility to acquire a home loan. We suggest that if you are looking for a regional home mortgage loan, that you click the free credit report link on the website and fill in your details. This is a great starting point on your way to getting the house of your dreams.

What if I Have Used the Banks Before But I am Having Trouble Getting A Regional Loan Now?

This may be the first time in your borrowing history that you have ever thought about using a regional focused lender. You may be surprised that the rates may even be cheaper than current bank rates. This of course depends on your circumstances, property chosen and personal credit history.

Click on the Free Credit Report and/or call 1800 100 100 and see how we can help you buy a regional property.



Would a large Country Town Be Considered Regional?

Generally, yes would be the answer. The smaller a town generally the fewer buyers for the properties in that area and for banks, generally that represents a riskier loan requiring more collateral or the town might be excluded. This is where having a variety of lenders is important.  

Are There Specialist or Available Regional Loan Banks/Financiers?

Yes, there are and we can help you with choosing them. Individual circumstances need to be taken into account.